Client Alert

The Internal Revenue Service Office of Tax Exempt Bonds has announced a new sequester reduction in amounts paid to issuers of direct pay bonds for which issuers elected to receive a direct payment from the U.S. Treasury pursuant to Section 6431 of the Internal Revenue Code. The reduction applies to certain direct pay bonds, including: Build America Bonds (which includes Recovery Zone Economic Development Bonds); Qualified Zone Academy Bonds; Qualified School Construction Bonds; Qualified Energy Conservation Bonds; and New Clean Renewable Energy Bonds. The reduction does not apply to tax credit bonds for which the holder of the bonds receives a tax credit

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We have always been focused on finance.

  • 1913
    TS Chapman partners with Henry Cutler to form Chapman and Cutler
  • 1st
    Chapman's first client in 1913 is still a client of the firm today
  • 22
    Diverse financial practices serving regional, national, and global clients
  • 6
    Offices across the country and in key US financial centers

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